Soroban Capital Boosts Position in Coca-Cola Enterprises to 6.3%

Published October 28, 2013 at 11:41 am EDT Updated October 28, 2013 at 12:08 pm EDT

Coca-Cola Enterprises, Soroban: In a filing this morning with the SEC, Soroban Capital Partners, managed by Eric W. Mandelblatt, reported increasing its exposure in Coca-Cola Enterprises Inc (NYSE:CCE) to 6.3%. Soroban Capital Partners raised its passive position to some 16.4 million shares, versus around 10.1 million shares reported in its latest 13F.

Coca-Cola Enterprises Inc Soroban made the move into CCE a couple of days before the company announced its financial results for the third quarter. Net sales amounted to $2 billion, and EPS totaled $1.07 on a reported basis. The company plans to buy back at least $1 billion of its shares by the end of the year, under the terms of its $1.5 billion share repurchase program in 2013. For the whole 2013, Coca-Cola Enterprises expects EPS between $2.45 and $2.50.

Chase Coleman’s Tiger Global Management Llc also holds shares of Coca-Cola Enterprises, with its stake amounting to 5.4 million shares.

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